tag:blogger.com,1999:blog-6318055043707993918.post3955162829319357756..comments2016-12-09T09:04:24.342-05:00Comments on THE WANDERING TAX PRO: SELF EMPLOYMENT TAX VS FICA TAXRobert D Flachhttp://www.blogger.com/profile/06034127763662917220noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6318055043707993918.post-27827440395432691032012-12-18T11:15:27.559-05:002012-12-18T11:15:27.559-05:00Anon-
The self-employment tax is calculated on Sc...Anon-<br /><br />The self-employment tax is calculated on Schedule SE, an attachment to the Form 1040.<br /><br />If you have already maxed out on Social Security wages on a Form W-2 you would use Page 2 of the Form SE to calculate the self-employment tax liability.<br /><br />The calculation on Page 2 of Schedule SE takes the Social Security wages reported a Form W-2 into account when determining the liability.<br /><br />You will not be &quot;double-taxed&quot;.<br /><br />TWTPRobert D Flachhttp://www.blogger.com/profile/06034127763662917220noreply@blogger.comtag:blogger.com,1999:blog-6318055043707993918.post-58633187368083773102012-12-18T11:05:55.714-05:002012-12-18T11:05:55.714-05:00If I have fica that was paid to the maximum from m...If I have fica that was paid to the maximum from my employer and I am now self employed to I still have to continue paying that portion of the sele employed tax even though I know I have already exceeded the maximum fica owed for 2012?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6318055043707993918.post-78863426584572933752009-02-05T06:45:00.000-05:002009-02-05T06:45:00.000-05:00RLMCPA-Thanks for spreading the word about THE WAN...RLMCPA-<BR/><BR/>Thanks for spreading the word about THE WANDERING TAX PRO.<BR/><BR/>The effective cost in the 33% bracket would be 11.8%.<BR/><BR/>TWTPRobert D Flachhttp://www.blogger.com/profile/06034127763662917220noreply@blogger.comtag:blogger.com,1999:blog-6318055043707993918.post-86618588361773862872009-02-04T23:01:00.000-05:002009-02-04T23:01:00.000-05:00Thanks for your calculations regarding the effecti...Thanks for your calculations regarding the effective cost of self-employment tax. I've referred my clients to your blog.<BR/><BR/>What is the effective cost at the 33% tax bracket?RLMCPAhttp://www.blogger.com/profile/11854827121032462624noreply@blogger.com